Bed Bath & Beyond, Inc. (NYSE:BBBY) Given Consensus Recommendation of “Hold” by Analysts

Bed Bath & Beyond, Inc. (NYSE:BBBY) has received a consensus recommendation of “Hold” from the five research firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $8.6667.

Several equities research analysts recently commented on the company. Wedbush increased their price objective on Bed Bath & Beyond from $8.00 to $10.00 and gave the company an “outperform” rating in a research report on Tuesday, June 23rd. Zacks Research raised Bed Bath & Beyond to a “hold” rating in a report on Wednesday, June 24th. Weiss Ratings upgraded Bed Bath & Beyond from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 8th. Finally, Wall Street Zen cut Bed Bath & Beyond from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th.

Institutional Trading of Bed Bath & Beyond

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC boosted its stake in shares of Bed Bath & Beyond by 95.3% during the 1st quarter. Renaissance Technologies LLC now owns 1,041,100 shares of the company’s stock worth $4,831,000 after acquiring an additional 507,922 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Bed Bath & Beyond by 49.4% in the first quarter. Dimensional Fund Advisors LP now owns 905,712 shares of the company’s stock worth $4,201,000 after buying an additional 299,391 shares in the last quarter. ProShare Advisors LLC purchased a new stake in Bed Bath & Beyond in the fourth quarter worth about $3,290,000. Bank of America Corp DE bought a new position in shares of Bed Bath & Beyond in the second quarter worth about $2,119,000. Finally, Great Lakes Advisors LLC bought a new position in shares of Bed Bath & Beyond in the second quarter worth about $2,087,000. 76.30% of the stock is owned by hedge funds and other institutional investors.

Bed Bath & Beyond Price Performance

Shares of NYSE:BBBY opened at $4.38 on Wednesday. The company has a market capitalization of $417.07 million, a PE ratio of -3.84 and a beta of 2.89. The business has a fifty day moving average price of $4.71 and a 200-day moving average price of $5.12. Bed Bath & Beyond has a 1-year low of $4.18 and a 1-year high of $12.65. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.76 and a quick ratio of 0.59.

Bed Bath & Beyond (NYSE:BBBY) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.23). Bed Bath & Beyond had a negative net margin of 7.13% and a negative return on equity of 37.60%. The firm had revenue of $361.16 million for the quarter. During the same quarter last year, the firm posted ($0.34) EPS. As a group, equities analysts expect that Bed Bath & Beyond will post -0.92 EPS for the current fiscal year.

Bed Bath & Beyond Company Profile

Bed Bath & Beyond Inc was a U.S.-based home goods retailer that operated stores and e-commerce businesses under the Bed Bath & Beyond, buybuy BABY and Harmon banners. Its merchandise included bedding, bath products, kitchenware, home furnishings, décor, storage solutions and other household essentials, while buybuy BABY focused on products for infants and young children.

The company was founded in 1971 as Bed ‘n Bath and became Bed Bath & Beyond in 1987. At its peak, it served customers primarily in the United States and Canada through a nationwide store network and online channels.